Billd and American Express have joined forces to tackle payment challenges in the construction industry. This partnership aims to provide eligible commercial contractors of American Express merchants with flexible working capital options through an Amex referral program.
The collaboration allows B2B suppliers who accept Amex to extend payment terms to their buyers, enabling contractors to maintain cash flow and credit lines while allowing suppliers to offer terms they cannot support internally. This initiative promotes flexibility for contractors, reduces risk for suppliers, and strengthens relationships within the purchasing ecosystem.
Contractors often face financial strain due to upfront payments for labor and materials, waiting an average of 57 days for repayment according to the 2024 National Subcontractor Market Report. The burden of this payment cycle typically falls on contractors, limiting their growth opportunities.
The Billd-Amex partnership seeks to alleviate these constraints by offering Billd’s material financing solution. This service helps reduce working capital pressures on contractors, allowing them to focus on projects, win more bids confidently, and plan for long-term growth.
Chris Doyle, CEO of Billd, stated: “Working with Amex further delivers on our goal of providing purpose-built, industry-specific solutions that allow contractors the financial freedom to focus on doing the best work of their lives.” He added that Billd aims "to change the $1.5 trillion industry status quo by creating solutions that ease the financial burden for contractors.”